Inspire Investing LLC Sells 4,340 Shares of AppLovin Corporation $APP

Inspire Investing LLC lessened its position in AppLovin Corporation (NASDAQ:APPFree Report) by 28.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,720 shares of the company’s stock after selling 4,340 shares during the period. AppLovin comprises about 0.6% of Inspire Investing LLC’s portfolio, making the stock its 20th largest holding. Inspire Investing LLC’s holdings in AppLovin were worth $7,223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of APP. Board of the Pension Protection Fund bought a new position in shares of AppLovin in the 4th quarter valued at about $27,000. Washington Trust Advisors Inc. grew its position in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares during the period. Laurel Wealth Advisors LLC bought a new position in shares of AppLovin in the 4th quarter valued at about $32,000. Graney & King LLC bought a new position in shares of AppLovin in the 3rd quarter valued at about $36,000. Finally, Aventura Private Wealth LLC bought a new position in shares of AppLovin in the 4th quarter valued at about $38,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. Wedbush restated an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. BTIG Research restated a “buy” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Oppenheimer cut their target price on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Finally, Argus began coverage on shares of AppLovin in a research note on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $669.62.

Read Our Latest Research Report on AppLovin

AppLovin Price Performance

Shares of AppLovin stock opened at $479.49 on Thursday. The company has a 50-day simple moving average of $489.48 and a two-hundred day simple moving average of $519.07. The stock has a market capitalization of $161.08 billion, a price-to-earnings ratio of 41.19, a price-to-earnings-growth ratio of 0.84 and a beta of 2.45. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61.

AppLovin (NASDAQ:APPGet Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 EPS. Analysts forecast that AppLovin Corporation will post 15.86 EPS for the current year.

Insider Activity

In other news, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares in the company, valued at approximately $106,470,000. The trade was a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares of the company’s stock, valued at $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 226,014 shares of company stock valued at $113,073,400 over the last quarter. 13.66% of the stock is owned by corporate insiders.

AppLovin Company Profile

(Free Report)

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

See Also

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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